Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
"I am not comfortable that the American investing public understands the substantial risks that we face systemically from cyber issues," SEC Chairman Jay Clayton said.
The department said it would not bring claims against advisors or firms who fail to comply with the private-right-of-action portion of the best-interest contract exemption of the fiduciary rule.
Steven Peiken, the new co-head of enforcment, held as much as $9 million worth of stock and William Hinman, the SEC's director of corporate finance, represented big banks and technology companies.
In its latest round of FAQs, the DOL clears up retirement-plan advisors' confusion around 408(b)(2) disclosures and recommendations to increase contributions and plan participation.
New York's Department of Financial Services set a series of rolling deadlines for companies to become compliant with the new standards. The first is imminent.